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Ulta Stock Plummets on Internet Retail Concerns

Ulta Beauty Inc (ULTA) stock slipped about 5% to $255.85 Tuesday afternoon as online retailing rivals amped up pricing pressure to win cosmetics market share, the Financial Times reported.

Ulta stock began a downtrend in early July on concerns Amazon.com (AMZN) could make a bid for the beauty industry. A Jefferies analysis said Amazon was expanding its packaged beauty products and won the title of favored retailer for online purchases.

Amazon offered steep discounts for cosmetics as part of today's Prime Day promotion.

Before falling, the Illinois-based beauty retailer's stock notched a record $315 price on June 5. Ulta hit its lowest share price in seven months Tuesday, paring gains made year-to-date to less than 1% up after reaching as high as 23% up for the year in early June.

What's Hot On TheStreet

Watch out, Apple: Louis Vuitton Tuesday unveiled its first smartwatch coined the Tambour Horizon in a bid to cut into Apple Inc's (AAPL) hold on the wearables market, TheStreet reports.

The watch was made in conjunction with Alphabet's (GOOGL) Google and Qualcomm Technology (QCOM) and starts at a lofty $2,450. It works with both Apple and Android devices, and is the first Android Wear smartwatch that functions in...


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